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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>70740</law_id><section_number>6.2-1624</section_number><catch_line>Civil penalties</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="6.2">Financial Institutions and Services</unit><unit label="subtitle" level="2" order_by="1" identifier="III">Other Regulated Providers of Financial Services</unit><unit label="chapter" level="3" order_by="1" identifier="16">Mortgage Lenders and Mortgage Brokers</unit></structure><text>
						<section><p>In addition to the authority conferred under &#xA7;&#xA7;&#xA0;<a class="law" title="Suspension or revocation of license" href="/6.2-1619/">6.2-1619</a> and <a class="law" title="Cease and desist orders" href="/6.2-1622/">6.2-1622</a>, the <span class="dictionary">Commission</span> may impose a civil <span class="dictionary">penalty</span> not exceeding $2,500 upon any <span class="dictionary">mortgage lender</span> or <span class="dictionary">mortgage broker</span> required to be licensed under this chapter who it determines, in proceedings commenced in accordance with the <span class="dictionary">Commission</span>&#x2019;s Rules, has violated any of the provisions of this chapter or any other <span class="dictionary">law</span> or regulation applicable to the conduct of the <span class="dictionary">mortgage lender</span>&#x2019;s or <span class="dictionary">mortgage broker</span>&#x2019;s business. For the purposes of this section, each separate violation shall be subject to the civil <span class="dictionary">penalty</span> herein prescribed, and each day after the date of notification, excluding Sundays and holidays, as prescribed in &#xA7;&#xA0;<a class="law" title="Legal holidays" href="/2.2-3300/">2.2-3300</a>, that an unlicensed <span class="dictionary">person</span> engages in the business or holds himself out to the general public as a <span class="dictionary">mortgage lender</span> or <span class="dictionary">mortgage broker</span> shall constitute a separate violation.</p></section></text><history>1987, c. 596, &#xA7; 6.1-428; 1990, c. 4; 2001, c. 511; 2008, c. 863; 2010, c. 794.</history><metadata></metadata></law>
